One of Donald Trump’s favorite campaign trail lies is that he built the strongest economy on the face of the planet, and that he’ll do it again if the American people are duped into giving him a second term in the White House.
But a new analysis from Trump’s own alma mater – the University of Pennsylvania’s Wharton School – says that Joe Biden’s economic proposals will lead to greater economic growth.
CBS New reports, “Joe Biden’s economic proposals would create a faster growing economy, higher wages for American workers and reduce the debt compared to where the U.S. is headed under President Donald Trump, according to new analysis from the University of Pennsylvania’s Wharton School.”
While the business school wasn’t able to do an analysis of Trump’s second term economic proposals – because there are none – it was able to “compare Biden’s proposals to where the Congressional Budget Office believes the economy will be in a decade with Mr. Trump’s current plans, including the 2017 tax cuts, in place.”
On that score, it is Biden’s policies that will lead to a more robust economy built on “productive spending” like education, health care and infrastructure.
More from the report:
[T]he analysis, published on Monday, found that Biden’s proposals on education, infrastructure and health care would largely pay for themselves. That would be in part by raising taxes, but also by boosting wages and lowering health care costs.
“If you got the U.S. on this path, you would lower the debt and raise GDP,” said Richard Prisinzano, the director of policy analysis at the Penn Wharton Budget Model, a nonpartisan group at the top business school. “It is productive spending that Mr. Biden is proposing.”
Wharton’s analysis was compiled over the past few weeks, and does not include Biden’s recent proposal to penalize, through higher taxes, companies that move jobs and manufacturing overseas. Penn Wharton could not do a similar analysis for Mr. Trump, according to Prisinzano, because the Republican incumbent hasn’t offered any plans for his second term with enough detail to do an analysis.
But Wharton school researchers were able to compare Biden’s proposals to where the Congressional Budget Office believes the economy will be in a decade with Mr. Trump’s current plans, including the 2017 tax cuts, in place.
Trump has nothing to offer the American people
Because of Donald Trump’s negligence and incompetence on the coronavirus, the United States is suffering through one of the most devastating economic downturns in history.
During hours of fact-free press conferences and unhinged superspreader rallies, Trump doesn’t even knowledge the economic damage he’s caused, much less offer a plan to fix it.
Meanwhile, Joe Biden is proposing a plan to do what he and Barack Obama spent eight years doing when they were in power: Save the economy and get America back to work.
It’s a plan that Donald Trump’s own alma mater says will get the job done.
Sean Colarossi currently resides in Cleveland, Ohio. He earned his Bachelor of Arts degree in Journalism from the University of Massachusetts Amherst and was an organizing fellow for both of President Obama’s presidential campaigns. He also worked with Planned Parenthood as an Affordable Care Act Outreach Organizer in 2014, helping northeast Ohio residents obtain health insurance coverage.